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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsA new billionaire has been minted nearly every day during the pandemic, recent analysis shows
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Billionaires in the food and agribusiness sector have seen their total wealth increase by $382 billion, or 45%, over the past two years, after adjusting for inflation. Some 62 food billionaires were created since 2020.
Meanwhile, the net worth of their peers in the oil, gas and coal sectors jumped by $53 billion, or 24%, since 2020, after adjusting for inflation.
Forty new pandemic billionaires were created in the pharmaceutical industry, which has been at the forefront of the battle against COVID-19 and the beneficiary of billions in public funding.
https://abc7.com/billionaire-ranks-how-many-billionaires-in-the-world/11883638/
Hoyt
(54,770 posts)jimfields33
(15,933 posts)We could take all their money and run new programs for awhile. I say let them have 30 million.
Hoyt
(54,770 posts)Frustratedlady
(16,254 posts)You can't tell me that every single food item went up 25, 50 cents, $1 or more in grocery stores because of inflation. There have to be a lot of businesses seeing the opportunity to get their share of the game.
DFW
(54,436 posts)I'm not going to obsess over 573 people out of 250,000,000.
Bettie
(16,120 posts)This, in particular points to that: Billionaires in the food and agribusiness sector have seen their total wealth increase by $382 billion, or 45%, over the past two years, after adjusting for inflation. Some 62 food billionaires were created since 2020.
We're in a phase where they are just jacking up prices on things we need (gas, food) to see when we stop buying those things. Then, they have their new price point, at the very maximum that we will pay.
Food and agriculture are owned by a very few companies with practically speaking, no competition. So, they can fix the price at whatever they want to.
The US needs to resume enforcement of antitrust laws.